• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 7 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Hopes Are Dashed For International Oil Companies In North Iraq
  • 6 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 14 hours The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 19 hours "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 2 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 1 day The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days Changing Gazprom ADRs to Russian shares
Editorial Dept

Editorial Dept

More Info

Can The Caspian Still Become A Hydrocarbon Hub?

The contract of the century will most likely last just about a quarter of a century as Russia’s appetite for Caspian crude and gas has been put on the backburner amid US sanctions and the failure of Iran’s forgotten giant, Sardar Jangal, once touted to contain 10 billion barrels of oil, to meet expectations. This is a seemingly hopeless predicament for the Caspian littoral nations that finally agreed on the principles of their border delimitations last year, only to realize that the swift developments in international oil trade and politics might render Caspian volumes largely irrelevant. Evidently, there are some positive developments, too, but they are too few to outweigh the adverse ones.

The Caspian’s most contradictory story has been unfolding in Azerbaijan. It is no secret that Azeri crude output is gradually declining, dropping down from its all-time peak of 1.037mbpd in 2010 to the current level of 0.8mbpd. SOCAR, Azerbaijan’s national oil company, has been readying to embrace a new capacity for some time already, building up the foundations of its transition from a crude player to a predominantly gas-relevant company. These shifts did not go unnoticed with US oil majors ExxonMobil and Chevron, who were involved in Azerbaijan from 1993 and are one of the last members of the old guard who actually signed the “contract of the century”. Both US firms have approached several potential buyers, declaring their interest to sell their…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News